Pfizer won the bidding war for obesity developer Metsera with an amended agreement valuing the company at about $10 billion. Novo Nordisk withdrew from further bidding after a week-long contest. The deal grants Pfizer access to Metsera’s obesity pipeline and associated assets. Reporting indicates the bid process included political and regulatory signals that influenced negotiations. Industry observers note the acquisition bolsters Pfizer’s late push into obesity therapeutics and highlights the strategic premium firms are willing to pay for metabolic pipelines. The outcome also underscores continued consolidation as major pharmas race to secure obesity and metabolic disease assets.